Trubridge sees $3.5 million in stock purchases by major shareholders

Published 21/02/2025, 23:40
Trubridge sees $3.5 million in stock purchases by major shareholders

In a series of recent transactions, two significant shareholders of TruBridge, Inc. (NASDAQ:TBRG) have collectively purchased shares worth approximately $3.5 million. Pinetree Capital Ltd. and L6 Holdings Inc., both based in Toronto, Canada, increased their stakes in the $404.65 million market cap company through multiple transactions between February 19 and February 21, 2025. The insider buying comes as TruBridge shares have surged 183% over the past year, with InvestingPro data showing the stock trading near its 52-week high of $29.27.

Pinetree Capital Ltd. acquired a total of 39,074 shares across two transactions, with prices averaging $27.9996 and $27.9949 per share. Meanwhile, L6 Holdings Inc. purchased 85,784 shares at an average price of $28.2483 per share. These acquisitions reflect a price range of $27.9949 to $28.2483 per share, with technical indicators from InvestingPro suggesting the stock is currently in overbought territory.

The transactions, disclosed in a recent SEC Form 4 filing, highlight continued interest and investment in TruBridge by its major stakeholders. The purchases were conducted through Pinetree Income Partnership and L6 Holdings Inc., as indicated in the filing. Analyst targets for the stock currently range from $15 to $32, with detailed analysis and additional insights available through InvestingPro’s comprehensive research reports.

In other recent news, TruBridge, Inc. has been selected as a preferred partner by Cibolo Health to provide Revenue Cycle Management (RCM) solutions to rural healthcare providers. This partnership aims to enhance financial stability for healthcare organizations by extending TruBridge’s RCM technology and services. In another development, TruBridge announced the appointment of Merideth Wilson as the General Manager of its Financial Health division. Wilson, with extensive experience in healthcare technology, is expected to drive growth in the division, which accounts for a significant portion of the company’s revenue. Additionally, TruBridge reported the departure of its Chief Operating Officer, David A. Dye, with details of his severance package disclosed in a recent SEC filing. The severance agreement includes installment payments, medical coverage reimbursements, and continued vesting of restricted stock shares. These developments underscore TruBridge’s ongoing efforts to strengthen its leadership and expand its reach in the healthcare technology sector.

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